North America Holds Major Market Share in Global Lidding Films Industry
2021 - 2028 Global Lidding Films Market
The Global Lidding Films Market is accounted for $2,871.09 million in 2021 and is expected to reach $4,610.34 million by 2028 growing at a CAGR of 7.0% during the forecast period. Lidding films are usually used for covering trays, tubs, etc. due to its high tensile strength, heat resistance, and stability. It also increases the shelf life of the product owing to its high barrier resistance. These films are also process optimized which helps in giving a cost effective product due to the cheaper raw material. The high barrier lidding films segment is growing significantly owing to the growth of packaged food & beverages along with a significant rise in the consumption of packaged meat, rise in FDIs, and an increase in urbanization in the food & beverage sector. North America is projected to hold the largest market share in the lidding films market during the forecast period, due to increasing need for consumer goods and packaged food and the presence of supermarkets and hypermarkets in almost all the cities. Asia Pacific is projected to have the highest CAGR during the forecast period, due to rapid growth in packaging industry, growing urbanization and industrialization in India and China, and the easy availability of low labor cost and raw materials.
Some of the key players profiled in the Lidding Films Market include Berry Plastics Corporation, Amcor Limited, Sealed Air Corporation, Bemis Company, Inc., The Mondi Group, Constantia Flexibles Group GmbH, Ampac Packaging LLC, Wipak Walsrode GmbH & Co. KG, Uflex Ltd, Schur Flexibles Holding GembH, Clifton Packaging Group Ltd, Linpac Packaging Limited, Plastopil Hazorea Company Ltd, Toray Plastics (America), Inc, and Impak Films Pty Ltd.
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